Stocks experienced significant gains at the end of the week, buoyed by two main developments: a potential peace deal between the United States and Iran that could be finalized this weekend, and the historic IPO of SpaceX on June 12, valued at nearly $1.8 trillion—marking the largest IPO in history.
GameStop Corp. announced a $2 billion share buyback, while Nvidia Corp. gained momentum through institutional buying. Tesla Inc. also saw an uptick following analyst upgrades. In the midst of this, Apple Inc. announced a reboot of Siri, though the stock’s gains were short-lived. Meanwhile, Amazon.com Inc. is facing challenges with over a 10% decline this month, attributed to heavy capital expenditure affecting cash flow.
Intel Corp. surged over 20% this week after announcing a foundry deal with Alphabet Inc. Lastly, the biotechnology sector is reacting to the $10.6 billion acquisition of Nuvalent by GSK, raising concerns over potential margin compression.
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